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Paragraph 7

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Except as otherwise expressly provided, the value of any chargeable consideration for a land transaction, other than—

(a)

money (whether in sterling or another currency), or

(b)

debt as defined for the purposes of paragraph 8 (debt as consideration),

shall be taken to be its market value at the effective date of the transaction.